Financial Aid

The University of New Mexico Office of Student Financial Aid has an office located in the law school, room 2514. Please email financial aid officer Carol Cravens, or call 505.277.9035 for assistance. All financial aid supporting documents for law students, including any requested forms or paperwork, should be sent directly to Ms. Cravens at the law school.

Federal Loan Programs

How to Apply

To apply for financial aid at the University of New Mexico School of Law, all U.S. citizens and permanent residents must submit the Department of Education’s Free Application for Federal Student Aid (FAFSA).

Completing Your Financial Aid File
All students must sign an "Authorization to Pay Allowable Charges" form, which authorizes UNM to use the students' financial aid to pay for allowable charges such as tuition/fees. The form may be downloaded from the Student Financial Aid Office website, and submitted to Carol Cravens in the Law School Financial Aid Office.

Admitted students will be able to access LoboWeb through MyUNM to view the status of their financial aid file. You may look under "Unsatisfied Requirements" to see if there are any additional documents required to complete your financial aid file.

Awarding Loans
Once you are admitted and the School of Law Financial Aid Office has received all required documents to complete your file, you will be awarded Stafford Student Loans for the maximum amount you are eligible for based on your cost of attendance. The maximum amount for graduate/professional students is $20,500 for the academic year.  You may reduce or cancel your loan by notifying Carol Cravens.

The Next Steps

Complete a Master Promissory Note
Because all student loans are now processed directly through the Department of Education, you will need to sign a promissory note with them for your loans by going to http://www.studentloans.gov. You will need to sign one for your Unsubsidized Loan and if you are taking out a Grad Plus Loan, you will need to sign another note for that. Once signed, the Master Promissory Notes are good for 10 years and for whatever loan amount is disbursed.

Complete Online Entrance Counseling
If you have not taken out student loans before, you will need to complete Entrance Counseling online by going to http://www.studentloans.gov. 

Grad Plus Loans
This loan is credit-based, with a slightly higher interest rate than the federal Unsubsidized Student Loan and will be awarded up to your cost of attendance, minus any other financial aid you have.  If your request for this loan is denied based on your credit standing, you may still be eligible with a co-signer.  It is important to notify Carol Cravens in the law school financial aid office if you do not wish to take out a Grad Plus Loan, or if you would like the Grad Plus Loan you have been awarded to be reduced.

Alternative Student Loans
These may be taken out when you do not meet other loan criteria or need additional educational funding. These loans are credit-based and usually have a higher interest rate than the Grad Plus, depending on the lender. If interested in taking out a private, alternative loan you will need to contact your lender directly.

Disbursement
Disbursement occurs each semester, usually the first week of classes. Provided you are enrolled in classes and all requirements have been completed, semester aid will disburse to your student account and pay toward your balance first. If you have a refund after this has occurred it will be sent to you by the Bursars' Office either via Direct Deposit that you have set up, or mailed to your current address. To set up Direct Deposit, sign into LoboWeb and click "Make Payments," then your "UNM Account Suite," then "Refunds," then "Payment Profile."

Financial Aid for Summer

  • To receive loans for summer, you must be enrolled in law school at least half time (3 hours) and have a complete financial aid file.
  • Summer expenses are based on the number of hours and the number of weeks for which you are enrolled. 
  • Summer is at the end of the academic year, so if you have received the maximum $20,500 in student loans during the fall/spring semesters, you will have used all your eligibility for those funds. However, you may request a Grad Plus Loan for your summer expenses. The Grad Plus Loan is credit-based and interest does start to accrue immediately. The Grad Plus request form is available either in the law school financial aid office or online. Please submit to it Carol Cravens in the law school financial office once you have enrolled for summer.
  • You may also receive work-study funds if you meet the above criteria.
  • To request loans and/or work study for the summer, you may download and complete the Summer Request Form and submit it to Carol Cravens in the law school financial aid office.  In order to have your loan awarded by the tuition due date of June 1, 2012, this request must be received in the law school financial aid office no later than May 29, 2012

Financial Aid FAQ